Global Marine Propulsion Engine Market Research Report, 2016-2024: Fractovia.Org

Mounting requirement for operationally effective and low fuel emitting ships will spur marine propulsion engine market size. Reputed business participants such as Wärtsilä and Rolls-Royce have focused on the production of energy efficient diesel engines with enlarged capacities, thereby boosting the market trends.

Rising consumer preference for green energy sources over the traditional ones will further widen the business scope. According to Global Market Insights, Inc., “Marine propulsion engine industry revenue is projected to surpass USD 13.3 billion by 2024, registering a CAGR of 4.3% over the coming seven years.”

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Considering the regional trends, Asia Pacific marine propulsion engine industry value, which was estimated at USD 4.5 billion in 2015, is predicted to grow at a rate of 4.8% over the coming timeframe. Growing product demand across the countries such as China and South Korea will push the growth. Large-scale acceptance of LNG as a marine fuel due to its effective combustion abilities will drive U.S. marine propulsion engine industry trends over the years to come.

Natural gas, diesel, steam turbine, wind & solar, fuel cell, and gas turbine are the major marine propulsion engine products. Diesel marine propulsion engine industry, worth USD 6 billion in 2015, is slated to record a cumulative growth of 4.2% over 2016-2024. The growth can be ascribed to technological innovations such as brake mean effective pressure, firing pressure, effective turbo-charging ability, and advanced fuel injecting technology.

Wind & solar marine propulsion engine market revenue is expected to grow at a rate of 6% over the coming years, subject to the beneficial government guidelines supporting the use of sustainable energy sources to maintain green environment. Gas turbines, which contributed more than USD 900 million toward marine propulsion engine market size in 2015, are expected to further spur the industry growth over the next few years. Escalated product demand across the defense sector, owing to its effective and speedy operational capacity will push the market expansion.

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Periodic mergers & acquisitions and long-term partnerships majorly influence marine propulsion engine market trends. MAN Diesel & Turbo SE, Caterpillar, Idemitsu Kosan Company Limited, Sinopec Limited, Hydrosta BV, Cummins Incorporation, Exxon Mobil Corporation, Volvo Penta, Royal Dutch Shell plc, Idemitsu Kosan Company Limited, Mitsubishi Motors Corporation, Hydraulic Marine Systems, and Yamaha Motor Company Limited are the major participants of marine propulsion engine industry.

Browse key industry insights spread across 103 pages with 35 market data tables & 30 figures & charts from the report, “Marine Propulsion Engine Market Size By Product (Diesel, Wind & Solar, Gas Turbine, Fuel Cell, Steam Turbine, Natural Gas), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

https://www.fractovia.org/news/industry-research-report/marine-propulsion-engine-market

Browse Related Reports:

Marine Diesel Engines Market Size By Technology (Low Speed, Medium Speed, High Speed), By Application (Merchant [Container Vessels, Tankers, Bulk Carriers, Gas Carriers, Roll On/Roll Off], Offshore [Drilling Rigs And Ships, Anchor Handling Vessels, Offshore Research Vessels, Floating Production Units, Platform Supply Vessels], Cruise And Ferry [Cruise Vessels, Passenger Ferries, Cargo Ferries, Fast Ferries, Yachts], Navy), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, Norway, UK, France, Russia, Denmark, China, Japan, South Korea, India, Australia, Vietnam, UAE, Saudi Arabia, Iran, Angola, Egypt, South Africa, Mexico, Brazil, Argentina) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/marine-diesel-engine-market

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